DBS named most outstanding private bank in Asia-Pacific

Wins multiple accolades at PBI Global Wealth Awards 2014, including an award for having the most innovative business model

Singapore, 17 Oct 2014 -

DBS has been named the most outstanding private bank among other regional players in Asia Pacific by Private Banker International, a leading journal for the global wealth industry, in its annual PBI Global Wealth Awards 2014. DBS also clinched an award for having the most innovative business model in the industry.

These awards were created to identify and pay tribute to industry leaders and best-of-breed institutions which have done the most in the past year to advance and strengthen wealth management as an industry. They also aim to be fair and objective benchmarks for the global private banking and wealth management business.

One of DBS’ strategic priorities is to strengthen its wealth proposition, which spans DBS Treasures, DBS Treasures Private Client and DBS Private Bank. DBS continuously strives to leverage the best of the bank and combine its wealth management solutions with its clients’ wealth creation needs. The business has grown strongly since 2010, and is now among the top 10 players in Asia. DBS recently completed the acquisition of the Asian private banking business of Societe Generale, and saw its high net worth assets under management and assets under management for all wealth customers increase to SGD88 billion and SGD129 billion respectively.

Said John Evans, editor-at-large of Private Banker International, “DBS, the largest banking group in South-East Asia, stands out for being a notable home-grown “challenger” bank in Asia to the big Western private banks. In other words, it is increasingly competing with the global wealth giants across Asia, with its capacity spurred by the acquisition of client assets and professionals from Societe Generale in Asia earlier this year. In a carefully-laid strategy, DBS has been able to build excellence in private banking capability from the ground upwards, establishing best practice which few other leaders in the Asian wealth industry can match. This has created a truly innovative, forward-looking business model. For few banks have so effectively harnessed the whole of the institution to bring multiple streams of expertise to their private clients. DBS also ranks as one of the world’s safest, best capitalised banks – vital in a world beset by a range of financial, economic and political turbulence.”

DBS Private Bank and DBS Treasures Private Client were also highly commended for their outstanding NRI offerings and outstanding wealth management service for the affluent respectively. In addition to the institutional awards, five relationship managers from DBS were also named as outstanding young private bankers for 2014. They are Bryan Tan, Desmond Poon, Donny Kurniawan, Lois Wan and Ravi Ramakrishnan.

Said Tan Su Shan, Group Head of Consumer Banking & Wealth Management at DBS Bank, “Wealth management is an integral part to our overall business. Over the years, the growth of our wealth management business has been robust and sustainable, reflecting the confidence clients have in us. Our in-depth bank-wide expertise and insights into Asia, coupled with our reputation as Asia’s safest bank, make DBS an attractive option for HNWIs who are looking to grow their wealth. As the technology revolution has changed the way our clients live, work and play, we have also taken significant steps to enhance the delivery of our financial and banking capabilities to our clients. This includes our collaboration with IBM to use IBM Watson to deliver the next generation client experience in providing advice and the ongoing development of our best-in-class digital wealth platform. At DBS, we are focused on the importance of always being relevant to our clients.”

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About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 250 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 20,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com